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The stack

4 picks · curated
01
Reuters 4 am · exclusive

Anthropic sets modest $1 trillion IPO valuation target in test of Wall Street's AI fervor

Anthropic's filing sets a $70–78 price band on 825 million shares, valuing it at up to $1.02 trillion and raising up to $64.4 billion, well short of the $1.5 trillion investors had discussed. A $26 billion cornerstone placement from Google, Nvidia, AMD and others lifts the total to $90.4 billion; third-quarter revenue rose 47% from the prior quarter to $16.96 billion.

02
Hacker News 135 c · 648 pts

Google Gemini routes personal Drive files and emails to human annotators

A detailed write-up shows consumer Gemini with Connected Apps on pulling Gmail and Drive content into chats unprompted, and notes Google quietly edited its 2023 promise that such content "is not seen by human reviewers". Google's help page now tells users not to connect anything they wouldn't want a reviewer to read. Workspace business accounts are contractually excluded.

03
NPR txt Planet Money · analysis

Why did California's billionaire tax fail to surf the blue wave?

Voters rejected Prop 40's one-time 5% wealth tax even as Democrats swept the midterms. Gabriel Zucman blames more than $300 million in one-sided ad spending; Stanford's Joshua Rauh notes the biggest defections came in Bay Area counties closest to the billionaires and the businesses they fund, and concludes even progressive California isn't ready for a wealth tax.